Royal Bank Of Canada Reaffirms Hold Rating for Medidata Solutions, Inc. (MDSO)

Royal Bank Of Canada reiterated their hold rating on shares of Medidata Solutions, Inc. (NASDAQ:MDSO) in a research report report published on Friday. Royal Bank Of Canada currently has a $80.00 price target on the stock.

A number of other research firms have also commented on MDSO. J P Morgan Chase & Co boosted their price objective on Medidata Solutions to $87.00 and gave the stock an overweight rating in a research note on Tuesday, July 18th. Citigroup Inc. reissued a buy rating and issued a $94.00 price objective (up previously from $77.00) on shares of Medidata Solutions in a research note on Monday, July 10th. KeyCorp reissued a buy rating and issued a $86.00 price objective on shares of Medidata Solutions in a research note on Sunday, September 17th. Wells Fargo & Company reduced their price objective on Medidata Solutions from $83.00 to $80.00 and set a market perform rating on the stock in a research note on Friday. Finally, Morgan Stanley boosted their price objective on Medidata Solutions from $74.00 to $86.00 and gave the stock an overweight rating in a research note on Thursday, July 20th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Medidata Solutions currently has an average rating of Buy and an average price target of $84.25.

Medidata Solutions (NASDAQ MDSO) opened at 75.01 on Friday. Medidata Solutions has a one year low of $46.10 and a one year high of $85.92. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 121.18 and a beta of 1.77. The stock’s 50 day moving average price is $78.07 and its 200-day moving average price is $74.72.

Medidata Solutions (NASDAQ:MDSO) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The company had revenue of $140.08 million for the quarter, compared to analyst estimates of $141.27 million. Medidata Solutions had a return on equity of 11.54% and a net margin of 7.84%. The business’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 earnings per share. On average, equities research analysts anticipate that Medidata Solutions will post $1.27 earnings per share for the current fiscal year.

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In other news, COO Michael L. Capone sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $74.53, for a total transaction of $372,650.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of MDSO. UBS Asset Management Americas Inc. lifted its stake in shares of Medidata Solutions by 16.7% during the first quarter. UBS Asset Management Americas Inc. now owns 29,724 shares of the company’s stock valued at $1,715,000 after acquiring an additional 4,251 shares during the period. OppenheimerFunds Inc. lifted its stake in shares of Medidata Solutions by 28.4% during the first quarter. OppenheimerFunds Inc. now owns 6,863 shares of the company’s stock valued at $396,000 after acquiring an additional 1,517 shares during the period. Teachers Advisors LLC lifted its stake in shares of Medidata Solutions by 254.0% during the first quarter. Teachers Advisors LLC now owns 371,554 shares of the company’s stock valued at $21,435,000 after acquiring an additional 266,606 shares during the period. Vanguard Group Inc. lifted its stake in shares of Medidata Solutions by 5.1% during the first quarter. Vanguard Group Inc. now owns 4,874,974 shares of the company’s stock valued at $281,237,000 after acquiring an additional 235,190 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Medidata Solutions by 3.9% during the first quarter. Geode Capital Management LLC now owns 447,325 shares of the company’s stock valued at $25,806,000 after acquiring an additional 16,788 shares during the period. 98.49% of the stock is currently owned by institutional investors and hedge funds.

About Medidata Solutions

Medidata Solutions Inc (Medidata) is a provider of cloud-based solutions for life sciences. The Company provides cloud-based solutions for clinical research in life sciences, offering platform technology that focuses on the clinical development. The Company’s plan study addresses three areas to ensure optimal study design, grant development and negotiation, and investigator payments.

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